IHT Wealth Management LLC Takes Position in Golar LNG Limited (NASDAQ:GLNG)

IHT Wealth Management LLC purchased a new position in Golar LNG Limited (NASDAQ:GLNG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,558 shares of the shipping company's stock, valued at approximately $531,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Discovery Capital Management LLC CT purchased a new stake in Golar LNG during the 4th quarter worth $17,719,000. Invesco Ltd. raised its stake in shares of Golar LNG by 56.3% in the 4th quarter. Invesco Ltd. now owns 887,842 shares of the shipping company's stock valued at $37,573,000 after purchasing an additional 319,677 shares in the last quarter. Atika Capital Management LLC acquired a new stake in Golar LNG during the fourth quarter valued at approximately $8,401,000. ARS Investment Partners LLC boosted its holdings in Golar LNG by 1,158.1% in the fourth quarter. ARS Investment Partners LLC now owns 213,876 shares of the shipping company's stock worth $9,051,000 after purchasing an additional 196,876 shares during the period. Finally, Charter Oak Advisors LP bought a new stake in shares of Golar LNG during the 4th quarter valued at about $8,016,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Stock Performance

NASDAQ GLNG traded down $0.51 during trading on Thursday, reaching $42.00. 632,685 shares of the company traded hands, compared to its average volume of 1,386,333. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 301.16 and a beta of 0.47. The stock's 50 day moving average price is $36.70 and its two-hundred day moving average price is $38.84. Golar LNG Limited has a 1-year low of $24.42 and a 1-year high of $44.36.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG's dividend payout ratio is currently 208.33%.

Wall Street Analyst Weigh In

A number of analysts have commented on GLNG shares. StockNews.com upgraded shares of Golar LNG to a "sell" rating in a research report on Thursday, March 20th. DNB Markets upgraded shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 target price for the company in a report on Tuesday, April 22nd. Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Dnb Nor Markets raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $49.70.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.